Penthouse Media Group, the troubled adult media company, plans to file for a $250 million IPO, the company has announced. It says it plans to file the S-1 in Q2 of this year. Penthouse acquired Various Inc. for $500 million in December 2007.
Penthouse attempted an IPO in 19993, and recently filed for bankruptcy protection. They need an IPO windfall put themselves back on track.
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Well as of this morning they are off to a great start. They shut down last night for some upgrades and accidentally lost every account they had. No one can get into any of the sites now. This should generate some revenue. NOT.